MicroStrategy, the Bitcoin-focused development firm, has made another significant acquisition, purchasing 15,400 BTC during the week ending December 1. The purchase was made for a total of $1.5 billion, at an average price of $95,976 per Bitcoin. With this acquisition, MicroStrategy now holds 402,100 BTC, valued at $38.2 billion based on the current price of $95,000 per coin. The firm’s average purchase price for all its Bitcoin is $58,263.
This latest purchase was financed through share sales under the company’s existing at-the-market (ATM) program. Executive Chairman Michael Saylor had hinted at the acquisition in a post on Sunday, building anticipation for the announcement.
With the new purchase, MicroStrategy now controls nearly 2% of the total supply of Bitcoin that will ever be mined, given the cryptocurrency’s 21 million supply cap. The company’s strategic Bitcoin accumulation continues to position it as one of the largest Bitcoin holders in the world.
In other news, discussions are underway regarding the rebalancing of the Nasdaq 100 index, with the potential for MicroStrategy to be included in the updated index. A final decision on its inclusion will be announced on December 13.
Meanwhile, Saylor took to social media on Sunday to share that he had presented to the Microsoft board, advocating for Bitcoin as a treasury diversification strategy. In his presentation, Saylor emphasized that Microsoft’s current treasury management approach is weakening the company, while MicroStrategy’s daily trading volume has surpassed Microsoft’s. Saylor pointed out that, as of November 27, Microsoft’s average daily trading volume stood at $9.7 billion, compared to MicroStrategy’s $22 billion, despite the latter being only 2.5% of Microsoft’s size. Saylor also criticized Microsoft’s $200 billion in capital spent on dividends and stock buybacks over the last five years, suggesting these funds could have been better spent acquiring Bitcoin, which has risen over 1,200% in the past five years.
MicroStrategy’s stock rose 1.23% on Monday, maintaining a year-to-date increase of 450%.
In related news, Bitcoin mining company MARA Holdings (MARA) revealed it had acquired an additional 6,484 BTC between October 1 and November 30, spending around $618.3 million, with an average cost of $95,352 per Bitcoin. MARA also announced a proposed private offering of $700 million in zero-coupon convertible senior notes due 2031, with proceeds intended for further Bitcoin acquisitions and repurchasing existing convertible notes due in 2026. As of November 30, MARA holds 34,959 BTC, valued at $3.3 billion at the current market price.
